Bitcoin Price Rises to $88,445 Amid 8% Drop in Trading Volume
- Price Movement: Bitcoin's price increased by over 1% in the last 24 hours to $88,445, despite an 8% drop in trading volume to $39.3 billion, indicating cautious sentiment among market participants regarding future trends.
- Rate Expectations: Investors' expectations for the Federal Reserve to maintain interest rates in January have reached 87%, which may influence Bitcoin's investment sentiment and reflects the market's sensitivity to monetary policy.
- Technical Analysis: Bitcoin is currently consolidating within the $81,000 support range, and if it breaks above the 50-day SMA at $89,853, it could drive prices higher, targeting the resistance level at $94,000.
- Market Sentiment: Although Bitcoin shows slight bullish pressure with the MACD turning positive, and the RSI fluctuating between 40-50, indicating ongoing consolidation, investors should remain cautious of potential price volatility.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36425.103 | 48212.552 | 61160.853 | 72948.302 | 85896.603 | 97684.052 | 110632.353 |
| Fibonacci | 48212.552 | 57661.608 | 63499.245 | 72948.302 | 82397.358 | 88234.995 | 97684.052 |
About BTC
About the author







